Mersana Therapeutics, Inc. (NASDAQ:MRSN – Free Report) – Stock analysts at Wedbush raised their Q3 2023 earnings per share (EPS) estimates for Mersana Therapeutics in a research note issued on Tuesday, August 8th. Wedbush analyst D. Nierengarten now expects that the company will earn ($0.29) per share for the quarter, up from their prior forecast of ($0.31). Wedbush has a “Neutral” rating and a $2.00 price objective on the stock. The consensus estimate for Mersana Therapeutics’ current full-year earnings is ($1.70) per share. Wedbush also issued estimates for Mersana Therapeutics’ Q4 2023 earnings at ($0.23) EPS, FY2023 earnings at ($1.49) EPS, Q1 2024 earnings at ($0.19) EPS, Q2 2024 earnings at ($0.19) EPS, Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($0.78) EPS, FY2025 earnings at ($0.81) EPS, FY2026 earnings at ($0.50) EPS and FY2027 earnings at ($0.44) EPS.
Other analysts have also recently issued research reports about the company. Guggenheim cut Mersana Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, July 27th. Citigroup lowered Mersana Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, July 27th. BTIG Research lowered Mersana Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, July 27th. Truist Financial reaffirmed a “hold” rating on shares of Mersana Therapeutics in a research note on Thursday, July 27th. Finally, JPMorgan Chase & Co. lowered Mersana Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.57.
Mersana Therapeutics Price Performance
Shares of MRSN stock opened at $1.25 on Friday. The stock’s fifty day moving average is $3.83 and its 200-day moving average is $5.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.38 and a current ratio of 3.97. The stock has a market capitalization of $150.64 million, a PE ratio of -0.61 and a beta of 1.47. Mersana Therapeutics has a 52 week low of $0.80 and a 52 week high of $9.62.
Mersana Therapeutics (NASDAQ:MRSN – Get Free Report) last announced its earnings results on Tuesday, August 8th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.03). The business had revenue of $10.70 million for the quarter, compared to the consensus estimate of $12.93 million. Mersana Therapeutics had a negative return on equity of 255.91% and a negative net margin of 555.84%. The business’s revenue was up 148.8% compared to the same quarter last year.
Hedge Funds Weigh In On Mersana Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY lifted its stake in Mersana Therapeutics by 36.8% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,508 shares of the company’s stock valued at $38,000 after buying an additional 1,750 shares during the period. Quantbot Technologies LP acquired a new position in Mersana Therapeutics in the first quarter valued at about $37,000. Point72 Middle East FZE acquired a new position in Mersana Therapeutics in the fourth quarter valued at about $56,000. Sphera Funds Management LTD. acquired a new position in Mersana Therapeutics in the first quarter valued at about $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Mersana Therapeutics by 68.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,247 shares of the company’s stock valued at $72,000 after buying an additional 4,985 shares during the period. Institutional investors and hedge funds own 93.45% of the company’s stock.
Mersana Therapeutics Company Profile
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has a research and development collaborations with Janssen Biotech, Inc and Merck KGaA, as well as collaboration agreement with Asana BioSciences, LLC for the development of ADC product candidates.
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